Assetz Capital bolster financial crime management with LexisNexis


Assetz Capital, a UK-based peer-to-peer lending marketplace, has partnered with LexisNexis Risk Solutions to address its financial crime management.

Assetz Capital aims to “inspire and lead improvements” to the financial system. The company allows private institutional investors to lend money directly to small businesses and property developers.

Since its launch in 2013, Assetz Capital has lent over £bn to businesses and paid over £100m of gross interest to its investors, main of them retail.

LexisNexis Risk Solutions is a global data and analytics company that provides data and technology services, analytics, predictive insights and fraud prevention for a wide range of industries.

A report by Fintech & Finance News revealed that the  partnership between the two companies will see Assetz Capital adopt the LexisNexis RiskNarrativeTM platform across its business.

The platform leverages automation, AI and machine learning to provide a financial crime lifecycle management solution. This will allow Assetz Capital to further enhance its KYC and AML detection capabilities, as well as delivering productivity benefits to both customers and businesses.

Oliver Ward, group head of change & lending operations at Assetz Capital, said “Since deploying the platform, we have seen fantastic operational and productivity improvements with reductions in the time taken to complete KYC and AML checks, thereby reducing the time from application to fund, for our customers.”

Edward Vaughan, banking expert at LexisNexis Risk Solutions, added “It’s brilliant to see the RiskNarrative platform help organisations of all sizes protect their customers from the effects of financial crime. I am delighted Assetz Capital are one of our customers, and that we can support their onboarding processes, especially when the cost of compliance is at an all-time high. We look forward to future initiatives with them as they deliver an exceptional and frictionless customer experience.”

Earlier this year,  Digital identity firm Signicat revealed it was acquiring all the shares of UK anti-fraud company Sphonicfor an undisclosed fee, as part of an effort to bolster its financial crime capabilities.

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